CANADA STOCKS-TSX may rise on ECB rate hopes, BlackBerry to fall

Reuters Staff

3 Min Read

Nov 4 (Reuters) - Canadian stock index futures pointed to a higher open on Monday on expectations the European Central Bank will cut interest rates during its policy meeting and ahead of key U.S. employment data later in the week which could provide hints on when the Federal Reserve will decide to taper its stimulus program.

But shares of BlackBerry Ltd were expected to weigh on the market. The stock was down 17.5 percent in pre-market trade after the smartphone maker abandoned a plan to sell itself and said it will instead raise some $1 billion and replace its chief executive.

TOP STORIES

* An ineffective, fractious and fiscally irresponsible government has slowed the U.S. recovery and counteracted the stimulative effects of Federal Reserve’s super-accommodative monetary policy, a top Fed official said.

* HSBC reported a 10 percent rise in third quarter profits, helped by tighter cost control and fewer losses from bad loans, and confirmed it was being investigated as part of a global probe into currency market trading manipulation.

* Anadarko Petroleum Corp is considering the sale of its holdings in oil and gas projects in China in a deal that could be valued at about $1 billion, sources familiar with the matter said.

MARKET SNAPSHOT

* Canada stock futures traded up 0.18 percent

* U.S. stock futures , , were up around 0.31 - 0.46 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 274.7762; fell 0.27 percent

* Gold futures : $1,316.5; rose 0.26 percent

* US crude : $94.25; fell 0.38 percent

* Brent crude : $105.5; fell 0.39 percent

* LME 3-month copper : $7,201; fell 0.61 percent

CANADIAN STOCKS TO WATCH

* Canadian National Railway Co : A train carrying lumber and sulfur dioxide derailed in the Western Canadian province of Alberta on Sunday, but there were no injuries or spills of dangerous goods, a spokesman for the railway said.

ANALYSTS’ RECOMMENDATIONS

Following is a summary of research actions on Canadian companies reported by Reuters.